Issue - meetings

Report No:   CAB/SE/15/056

Cabinet Member: Ian Houlder          Lead Officer: Rachael Mann

RECOMMENDED TO COUNCIL:

That the Annual Treasury Management Report for 2014-2015, attached as Appendix 1 to Report No: TMS/SE/15/004, be approved.

The Cabinet considered Report No: CAB/SE/15/056 (previously circulated), which sought approval for the Annual Treasury Management Report for 2014-2015.

Councillor Ian Houlder, Portfolio Holder for Resources and Performance, drew relevant issues to the attention of the Cabinet, including that the Annual Treasury Management Report for 2014-2015, which was attached at Appendix 1 to Report No: TMS/SE/15/004, summarised the interest earned during 2014-2015 on the various treasury investments held by the Council; investment activity during the year and the investments held as at 31 March 2015.

Overall investment activity for 2014/2015 was outlined in Report No: CAB/SE/15/056, including that the average rate of return on investments was 0.75% against a budgeted rate of return of 1.5%.Investment activity from 1 April to 30 June 2015 was also noted.

Councillor Sarah Broughton, Chairman of the Performance and Audit Scrutiny Committee highlighted that whilst it was disappointing that investments did not average a budgeted return of 1.5%, this was consistent with national local authority investment performance.

RECOMMENDED TO COUNCIL:

That the Annual Treasury Management Report for 2014-2015, attached as Appendix 1 to Report No: TMS/SE/15/004, be approved.

(Councillor Sarah Broughton left the meeting at the conclusion of this item.)